June 19, 2024
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Shore Capital Partners announces sale of Behavioral Innovations

Shore Capital Partners announces sale of Behavioral Innovations
Beyond the Bell Program ; Image taken from Behavioral Innovations website

Shore Capital Partners, a Chicago-based private equity firm focused on microcap investing, is pleased to announce the sale of Behavioral Innovations (“BI”), a leading provider of center-based applied behavior analysis therapy to early intervention children with autism spectrum disorder and other related developmental disabilities, to Tenex Capital Management. Behavioral Innovations has 77 centers across Texas, Oklahoma, and Colorado.

Chief Executive Officer Dino Eliopoulos, Behavioral Innovations
Dino Eliopoulos, Chief Executive Officer, Behavioral Innovations
Image taken from Behavioral Innovations website

Shore partnered with BI in 2017 with the goal of providing best-in-class clinical care to children on the autism spectrum by rapidly opening new centers and training the high caliber clinicians necessary to deliver industry-leading care. In 2017, Shore completed a strategic partnership with Dan Nicholson and co-founders Carla Edwards and Lori Russo, Board Certified Behavior Analysts (“BCBAs”). Led by Chief Executive Officer Dino Eliopoulos, BI has grown its center network from 13 centers in Texas and Oklahoma to 77 locations throughout Texas, Oklahoma, and Colorado. Under Dino’s leadership, BI opened 64 new clinics, dramatically improving access to quality care across its markets and creating 2,300+ new jobs across its center footprint. BI plans to continue to rapidly expand into new geographies to offer autism therapy services to additional children.

Carla Edwards, Chief Clinical Officer and Co-Founder of Behavioral Innovations
Image taken from Behavioral Innovations website

“We are extremely proud of what the Behavioral Innovations team has built,” said John Hennegan, Chairman of the Behavioral Innovations Board and Founding Partner at Shore. “Through the company’s significant growth, the BI team remained committed to client-centered services and a patient-first culture above all else. With a strong executive management team in place and a market with significant unmet demand, we look forward to following BI’s continued growth as a leading center-based ABA therapy provider.”

John Hennegan, Chairman of the Behavioral Innovations Board and Founding Partner at Shore
Image taken from Shore website

“Shore’s partnership was invaluable and enabled us to expand rapidly,” said Eliopoulos. “We were able to move faster with less risk, given Shore’s years of experience investing in healthcare businesses and its deep bench of hands-on operational support typically only accessible to large-cap companies.”

Lori Russo, Image taken from Behavioral Innovations website

“Since starting Behavioral Innovations in 2000, our primary focus has been providing best-in-class clinical care and autism therapy services. I am delighted that we have maintained this since expanding and adding new centers,” said Carla Edwards, Chief Clinical Officer and Co-Founder of Behavioral Innovations. “We look forward to continuing to support children with autism and their families with clinical resources and support.”

Jon Kreiger of Calex Partners LLC is serving as exclusive financial advisor and Winston & Strawn LLP is serving as legal advisor to Shore and BI.

Source

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